Property; prohibiting control of certain real property by certain foreign adversaries. providing for acquisition and subsequent sale of certain property upon certain judicial determination. Effective date.

SB 916 prohibits foreign adversary nations (as defined by U.S. regulations) and certain affiliated entities from owning, controlling, or acquiring agricultural land or real property within five miles of military installations in Oklahoma. It requires existing violations to divest holdings within two years, with exceptions for diplomatic properties, agricultural research activities (like seed or fertilizer testing), and residential leases. The bill defines "agricultural land" broadly to include crop and livestock operations, and allows a de minimis ownership exception for public stock holdings under 5% or noncontrolling interests in SEC-registered entities. It also permits the Governor to waive restrictions if economic benefits outweigh security concerns.